UPDATE: Paul Ryan's Bank Transactions Were Not Insider Trading

Republican Vice Presidential Pick Paul Ryan sold shares in a number of financial
companies including Citigroup, General Electric, Wachovia, and JP Morgan Chase on the same day as
then-Treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke held a closed meeting with
congressional leaders during the financial crisis.

At issue are the sale of troubled banks like Wachovia and
Citi, as well as General Electric's struggling
capital unit, dated on
September 18, 2008 — the same day as the meeting with
Bernanke and Paulson according to the Associated Press.

Ryan's disclosure also shows the purchase of shares in Goldman Sachs, which was considered a
relatively safer bank at the time.

Wachovia was later purchased by Wells Fargo after it neared failure at the end
of 2008.

Attendance at closed door meetings are not tracked by the Office
of the Clerk of the House of Representatives, which keeps records
of voting by members.

We've reached out to Paul Ryan's Congressional office to see if
he was also at the meeting.

Other representatives have come under scrutiny for trading on
non-public information during the crisis.

Earlier this year, Spencer Bachus of Alabama,
chairman of the House Financial Services
Committee, was
cleared of insider trading by the Office of
Congressional Ethics after it had opened an investigation of his
dealings in financial securities.